After four weeks of frustration, Achieva recognized that their verification process has an issue and used a pilot software package to get me through the verification process.
I am now in the midst of funding my IRA cd.

After four weeks of frustration, Achieva recognized that their verification process has an issue and used a pilot software package to get me through the verification process.
I am now in the midst of funding my IRA cd.

Jeff

Congratulations on working through this issue to get your account setup.

After completing my analysis I too pulled the trigger to open the 5 Year CD to act as my "Bond" allocation" as we are 2.5 years from retirement. This is a synopsis of the process as it worked for me (fortunately, I did not run into your verification process issue). I am providing this information for others that my come along.

Thursday July 5 - Applied for membership online including uploading my front and back of my Drivers License. Savings account funded with $26 from a Credit Card. Broken down as $10 for donation to meet membership requirements, $15 Membership Fee and $1 to leave a balance in the Savings Account. Subsequent boiler plate documents will ask you to provide copy of DL# but it is not need once provided. Customer Service will confirm this.

Thursday July 12 - I called at 1pm to inquire on status of app. Rep checked and found that I was now 3rd in line (they are processing a very high number of apps with this 4.2% offering). At 3:45pm I received an email with the completed and approved app which asked for my review. I found one error on my phone number (handwritten then scanned so it was misread). Email said they would notify me once funds received from VG. At this point I was locked in and guaranteed to get the 4.2% rate even if it was lowered before the funds arrived. Prior to this there was no commitment to honor prior to approval of the IRA application.

Tuesday July 17 - Vanguard notified me that at 9am that they received a request that was missing information. I called VG and I reached support without delay. Achieva failed to include my account number. I contacted Achieva to make certain I used the correct account number and notified VG. Vanguard executed the transaction at 9:11am. The funds must move to the settlement fund first and then the funds can be disbursed from there.

Wednesday July 18 - Vanguard emailed me that they had cut a check for this transaction.

Monday July 23 - Achieva sent me an email and called me to notify that the funds had been received and that the CD was funded.

Along the way, I followed up with calls to customer service to make certain that they had everything they needed. Staying on top of the process was critical as I was concerned about the rate being reduced at any time.

As of today the 4.2% is still available but the staff know that at any time the Board of Directors could choose to change the rate.

Regarding the rest of our holdings- Once Vanguard executed the transaction to pull the funds on July 17th I then executed transactions against all of our accounts to move from Target Date/Life Strategy Funds to Admiral Shares of Total US and Total International in our VG held accounts and VG S&P and VG Extended Market in a 457 account that did not offer Total US nor an affordable International Stock. No bond funds remain in those accounts as this one IRA represents our "Bond" holdings across all accounts.

My large IRA now bears all of the "Bond" portion of our individual and joint holdings. At the end of this process our overall asset allocation remains unchanged (58/42), our US to International is now at 53/47 vs 60/40 previously to better represent market capitalization (the future will reveal the wisdom of this choice).

Based upon a COLA'd pension, the 5 year CD and a guaranteed pile of cash building upon Florida Retirement System Drop account we will likely have no need to touch any of our equities to meet our basic financial needs and reasonable desires for 8 years once we begin retirement. At that end of those 8 years we will be 68/70 and will have the added benefit of Social Security which will be substantial. Along the way we will be performing Roth conversions such that our eventual RMD's will be fully consumed by QCD's resulting in a 0% tax rate on them.

Were it not for Bogleheads and what I have learned over the past 2+ years from the Boglehead books I first devoured in late 2015 and the website since then, I would not have the sane knowledge and solid plan that I have today. Thanks to all that have worked so hard over the years to make this possible. I expect to continue to learn and help others that come hear for many years to come.

I was already a member with two IRA CDs earning something like 2.7%. Did the math, and paying the early withdrawal penalty (EWP) to do early withdrawals to reinvest at 4.2% was still a very good deal, so was ready to do it. Then found my CD disclosures and saw that Achieva waives the EWP for IRA CDs if you are age 59 1/2 or older, which I am.

So I called and told the rep I wanted to break one of my CDs to do this. She mentioned the EWP, but after I mentioned the waiver policy, she checked and verified it. I told her I was only doing one CD because I would exceed NCUA insurance limit by maturity, at which point she told me they have additional insurance that covers up to $500K. So I decided to break both CDs and put all proceeds into the new 5-year CD at 4.2%.

If they ever drop the extra $250K of coverage, I can do a penalty-free early withdrawal of the excess and transfer it somewhere else.

I was extremely happy with the entire experience.

One caution though. They did not include my accrued interest from the old CDs when they funded the new CD. I caught this, pointed it out to them, and they corrected it.

This is one of the best examples of the benefits of direct CDs with competitive yields and good early withdrawal terms. You're really lucky if your IRA CD with good early withdrawal terms already is at a bank or CU that comes out with a great deal, and super lucky if you qualify for a penalty-free early withdrawal.

Happy to announce I made it in...about 5 days after Vanguard mailed a check.
Once I got past the first level CSR(s), that told me I couldn't be verified without
flying down to Florida, I found the entire staff friendly and wanting to serve.

Happy to announce I made it in...about 5 days after Vanguard mailed a check.
Once I got past the first level CSR(s), that told me I couldn't be verified without
flying down to Florida, I found the entire staff friendly and wanting to serve.

Because it isn't a part of their business/marketing strategy. A better question might be how come a regional Credit Union can offer the highest rates on 5 year IRA CD's in the nation. I personally don't have any questions about why. I'm just tickled pink to have found out about it here and get the account opened and funded.

Because it isn't a part of their business/marketing strategy. A better question might be how come a regional Credit Union can offer the highest rates on 5 year IRA CD's in the nation. I personally don't have any questions about why. I'm just tickled pink to have found out about it here and get the account opened and funded.

Cheers

Silk,
Did the same got an email saying I got a 5 year IRA cd but the email did not give any details like the rate. Did you receive some more follow up information?

Because it isn't a part of their business/marketing strategy. A better question might be how come a regional Credit Union can offer the highest rates on 5 year IRA CD's in the nation. I personally don't have any questions about why. I'm just tickled pink to have found out about it here and get the account opened and funded.

Anyone know where to find the CD IRA application? Do I need to call to request this?

Thanks!

If you have already completed all the steps to apply for, and be approved for, membership that I documented then just call them and ask. If you have not then start at my first step. You can't get a CD application until you have done this.

My wife submitted the membership application for the 4.2 CD percent. We were told by a Rep the application fell through because she answered a security question incorrectly. We've tried to resubmit the application but it the system doesn't take us back through the security questions. Again we talked to a Rep and was told he didn't know what the problem is, and a support ticket has been created to investigate the issue.

Has anyone had this problem? We tried to submit a new application with no success.

My wife submitted the membership application for the 4.2 CD percent. We were told by a Rep the application fell through because she answered a security question incorrectly. We've tried to resubmit the application but it the system doesn't take us back through the security questions. Again we talked to a Rep and was told he didn't know what the problem is, and a support ticket has been created to investigate the issue.

Has anyone had this problem? We tried to submit a new application with no success.

Apart from waiting for the support ticket to be investigated you could see if their is a brick and mortar Co-op Shared Branch near you. If you find one, I would ask AchievaCU support if you can go there, prove your identity in person so that you can get the ball rolling.

A link to search page shared branches is listed below. Make certain to search for a Shared Branch and not an ATM.

Problem resolved today. Branch Manger spoke directly to me. After a failed attempt together to resubmit another IRA application, she sent me an App my wife used to verify her identity.

Very pleased. Branch manager was very friendly, professional and sincerely showed our frustration really mattered to her.

Completed the IRA direct transfer and retirement application forms. Sent them to her today late in the business day. Hopefully all will go well tomorrow and we can get the IRA 4.2 percent rate before promotion ends.

- sep 17 - called to see if rate was still available. Tried to sign up online, 2FA text never arrived. Called achieva back, reported problem, was told I'd get a callback from tech team by close of business. Never received call.